Stan Johnson Company Arranges Sale of Office Flex Property in Syracuse, New York for $11.875 Million
New York, New York, June 13, 2019 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a single-tenant flex facility in North Syracuse, New York leased to Novanta (NASDAQ: NOVT).
The property was sold by New York-based Mercer Street Partners. They were represented by John Rotunno of Stan Johnson Company.
“The sale allowed Mercer Street Partners to execute on their business plan and realize a strong gain for their investors,” said Rotunno, Associate Director in Stan Johnson Company’s New York office. “The buyer got a great investment property with an outstanding tenant and more than 10 years remaining on the current lease.”
The property was purchased in early June by an affiliate of National Asset Services Inc., a California-based investment group, for $11.875 million.
The 55,000-square-foot property includes 15,000 square feet of light industrial space and 40,000 square feet of recently constructed Class A office space. The build-to-suit headquarters is located on 6.7 acres at 7279 William Barry Boulevard.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses exclusively on net lease transactions involving retail, office, industrial, healthcare and sale-leaseback properties. The firm provides acquisition, disposition, capital markets and advisory services for institutions, developers, investment funds and private investors across the United States. Now in its fourth decade of serving as a trusted advisor to its valued clients, Stan Johnson Company has completed more than $30 billion in transactions nationwide and is regarded as the Net Lease Authority®. To learn more about Stan Johnson Company, please visit the recently enhanced website at www.stanjohnsonco.com.